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3 Houston innovators to know this week

In the Media
Student & Alumni Mentions
In The Media

Meet Taylor Anne Adams '23, who was recently featured in the Houston Innovators Podcast, talking about the Liu Idea Lab for Innovation and Entrepreneurship at Rice University.

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So you want to buy (or sell) shares on the stock exchange. How is the price determined?

Finance
In the Media
In The Media

James Weston, professor of finance at Rice Business, offers advice on what to do when you're ready to buy or sell shares on the stock exchange.

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Faculty Media Mention

Houston university awards grant to Texas accelerator to support sports tech

Entrepreneurship
In the Media
In The Media

Rice University awarded DivInc. an $800,000 grant this month to support its work in sports technology. The Texas-based company, which operates numerous accelerators, focuses on BIPOC and female founders working toward social and economic equity through entrepreneurship.

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Aligning Passion and Ambition: Meet Ale Arbelaez, Executive MBA Student

Student Stories
Student Stories
Other

After years of traveling North and South America working in the oil and gas industry, Ale chose a Rice MBA to make a greater impact at his company and elevate his career.

Executive MBA student
Executive MBA student

Where did you receive your bachelor's and master's degrees?

My petroleum engineering bachelor’s degree (1998) is from the Universidad America, located in my hometown, Bogota, Colombia. I got my master’s in petroleum engineering (1999) from the Instituto Tecnologico de Buenos Aires (ITBA) in Argentina. 

Describe your career journey including your current role and company.

My career path began in 1998 as a field engineer for YPF in Patagonia, Argentina. A few years later, I transitioned to a French company, SLB, where I was part of specialized operations teams gaining experience in reservoir performance and production engineering. Over time, I advanced through technical and leadership roles, including assignments in Brazil and Chile, before returning to Buenos Aires as the Argentina testing services manager.

In 2007, Chevron brought me on board as the senior production and operations engineering team lead in Brazil. After Brazil, I relocated to Covington, Louisiana for an IT role supporting deepwater assets.

In 2013, I took on the strategic growth manager position in Maracaibo, Venezuela, identifying and developing production opportunities. I was then appointed as the Subsurface Manager for a Chevron joint venture with PDVSA in eastern Venezuela.

After nearly a decade in Venezuela, I moved to Houston in 2022 as Chevron's corporate reservoir performance, framework and standards manager. I now oversee reservoir management activities, technical standards, communities of practice and portfolio analysis.

My journey started from humble beginnings but through perseverance and commitment to continual learning, I've grown into senior leadership roles in a major energy company. I'm grateful for the opportunities along the way.

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Executive MBA students
Ale Arbelaez and classmates

Why did you choose a Rice Business Executive MBA?

To acquire tools for greater impact at my company and in society, I sought a program that would challenge my critical and creative thinking. I needed one that would build a solid understanding of the current business environment while allowing application to the energy field.

This led me to the Executive MBA program at Rice Business, the top-ranked program in Houston known for its entrepreneurship focus. Designed for experienced executives like me, it offers a flexible schedule to continue working while pursuing the degree.

The curriculum features personalized, experiential, integrated learning. In the second year, I can select from over 100 electives to tailor my education to specific needs and interests.

The program also provides leadership and strategy executive forums and seminars to build an executive mindset. I appreciate the custom executive coaching to identify and fill gaps in my leadership portfolio.

Choosing Rice Business was a decision tailored to my needs, helping tremendously in reaching my goals. It's more than education; it's a transformative experience preparing me for effective leadership in the evolving business landscape.

What do you enjoy the most about being a Rice MBA student?

After one year in the program, I can say the experience has been truly enriching. The high-quality education from exceptional professors stands out. The diversity of my cohort greatly enhances the learning experience, bringing a wide range of perspectives and insights.

What has made it even more rewarding is the close-knit community Rice fosters. The staff, faculty, students and alumni share a strong bond, creating a supportive and collaborative environment. The well-being guide provided by Rice Business was particularly helpful, ensuring we thrived during the rigorous first year.

Networking opportunities have been plentiful, allowing us to socialize and connect with people from other graduate programs. The strong reputation of Rice Business also opens doors - people are willing to engage when they learn I'm a student here.

Additionally, having access to the larger university's resources has been advantageous. Rice Business ensures its MBA students can leverage the wide range of university resources available.

All these factors combined are making my time at Rice an enriching journey. I'm grateful for the experience.

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Executive MBA student
Ale Arbelaez, class of 2025

What are your career goals after graduation?

My short-term goal is to become a general manager within my company. I'm currently one level below that target. I believe the broadened knowledge and polished skills I'm acquiring through the executive MBA program can increase my ability to add value and contribute to the energy landscape.

Like many of my executive MBA peers, I seek to evolve my career within the same industry, with a long-term goal of potentially becoming a vice president at the company. The program provides me the opportunity to implement at work what I've learned in classes over the weekends, which is invaluable.

Ultimately, the goal is not just about advancing up the corporate ladder, but also about finding work that I'm truly passionate about. The new skills and knowledge I'm gaining as an executive MBA student are equipping me to pursue that aim of aligning my career ambitions with my passions.

How does the program positively impact you at work, and can you share an example of applying what you learned on the job?

The Executive MBA program at Rice Business has had a profound impact on my professional life. It has equipped me with a robust skill set and comprehensive business understanding that I've been able to directly apply to my work.

One of the most significant impacts has been the enhancement of my leadership capabilities. The program's focus on experiential learning and integrated thinking has allowed me to approach challenges more holistically. This has been particularly beneficial in my current role requiring strategic decision-making and effective leadership.

For instance, a key learning was the importance of stakeholder engagement in decision-making processes. I applied this when our team faced analyzing extensive enterprise business data. By engaging all relevant stakeholders, facilitating open communication and collaborative problem-solving, we devised a solution that addressed the immediate issue and improved overall operational efficiency.

Additionally, the program's emphasis on critical thinking and resilience has helped me navigate complex situations. During a multi-team, cross-region project with unforeseen obstacles threatening progress, I leveraged the problem-solving skills and resilience developed in my executive MBA to guide my team through challenges toward successful completion.

In summary, the Rice Business executive MBA program has enriched my knowledge, skills and ability to apply those learnings to drive personal growth and organizational success. It continues shaping my professional journey.


Ale Arbelaez is an Executive MBA student in the Class of 2025.

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The Rice MBA

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Houston MBA program enrollment is recovering, still not at pre-Covid levels

In the Media
MBA
Programs
Rankings
In The Media

Enrollment in Houston’s MBA programs is rising, with the majority of it being part- time students. Rice University recently created a hybrid MBA program, which it touts as the first of its kind in Texas. Rice also ranks highly on other rankings of online degree programs, including those of Bloomberg and U.S. News & World Report. 

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Applying In Round 1? Here’s A Checklist For June

Admissions
In the Media
In The Media

“If someone knows you well and can give insight into you, your skills and abilities and the things that make you a great MBA candidate, you’re going to have a more robust and positive letter,” says Coni Zingarelli, executive director of recruiting, admissions and student financial services at Rice Business.

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The Urge to Surge

Faculty Research
In the Media
Marketing
In The Media

In recent years, "surge pricing" has been mostly associated with rideshare companies like Uber and Lyft. Rice Business professor Utpal Dholakia suggested in 2015 that Uber “rebrand” surge pricing with another name, perhaps part of the reason we hear more about “dynamic pricing” these days. 

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Faculty Media Mention

Why Tech Companies Should Sponsor Hackathons

Temporary gatherings — like conferences and hackathons — are essential to attracting third-party developers.
Strategy and Environment
Technology
Faculty Research
Strategy
Strategy
Technology

Temporary gatherings — like conferences and hackathons — are essential to attracting third-party developers.

Based on research by Tommy Pan Fang (Rice Business), Andy Wu (Harvard) and David R. Clough (University of British Columbia)

Key findings:

  • Companies like Spotify and IBM need developers to build apps for their platforms.
  • Developers often struggle to determine which platforms they should prioritize when creating software or applications.
  • The platforms developers ultimately focus on are influenced by the types of in-person events and meetups they attend.

 

Companies like Amazon, Microsoft and Apple depend on third-party developers to create applications that improve the user experience on their platforms. However, given the many options available, developers face a daunting task in deciding which platform to focus their efforts on.

“Developers are faced with imperfect information,” says Rice Business assistant professor Tommy Pan Fang. “They don’t have an overview of the entire technology landscape.”

A team of researchers, consisting of Pan Fang, Andy Wu (Harvard University) and David Clough (University of British Columbia), set out to investigate how temporary gatherings like “hackathons” — in-person software development competitions — might influence a developer’s choice of software platform.

Hackathons like Rice University’s annual HackRice draw developers looking to pick up new skills and create applications with teammates. Many of these events are sponsored by software platform companies.

The research team conjectured that hackathon attendees are more likely to adopt a particular platform if any of the following conditions are true:

  • A high number of fellow attendees have already embraced it.
  • A fellow attendee has built an award-winning hackathon project on it.
  • The platform that sponsors the hackathon is already popular.

To test their theories, the researchers followed 1,302 software developers participating in 167 hackathons from January 2014 to May 2017. Twenty-nine different platforms sponsored the hackathons. Pan Fang and his colleagues tracked developers’ platform choices before and after the in-person events.

The researchers found that temporary gatherings — like hackathons, conferences and trade fairs — make a difference.

Developers with greater technical expertise were more likely to use a platform widely embraced by fellow hackathon attendees. And with every 10% increase in the number of hackathon attendees already using a given platform, other attendees were 1.2% more likely to try out that platform themselves the following year.

 

“The take-home message is, go out there and sponsor these events.”

 

They also found that platforms benefit from sponsoring temporary gatherings, like hackathons.

Developers who attended a hackathon sponsored by a particular platform were 20.4% more likely to adopt that platform in the following year, compared to developers who either did not attend any hackathon or attended one without a sponsor.

Part of the reason for the findings is that developers at hackathons exert social influence on each other, both during organized hackathon events like competitions and workshops, as well as informal ones including ping pong tournaments or nights playing video games.

“The social interaction and seeing their peers be successful with the tools and what’s fashionable impacts the tools they decide to adopt,” says Pan Fang. “For developers trying to figure out what technology to adopt in a world with imperfect information and uncertainty, having a gathering can be a beacon.”

Interviews with hackathon organizers, sponsors and developers in the U.S. and Canada backed up the researchers’ findings. Interviewees shared how they learned from their interactions with fellow developers during hackathons.

“When I’m walking around, it becomes noticeable what technologies people are using,” said a veteran of 15 hackathons. Another noted that if more people use a certain application programming interface, “it’s lower risk because it will be usable.” They added, “Most people just follow others.”

The study has implications for both developers and software platform companies alike. Results suggest hackathons can be a valuable venue for developers, not only to pick up new skills, but also to help them identify which platforms to use in the first place. For software companies, the lesson is simple: Sponsoring hackathons can be good for business.

Future research could look at how other types of events like conferences, tournaments and world’s fairs might impact how people end up adopting technologies, especially emerging ones, Pan Fang says. For example, a company like OpenAI could use these types of in-person events to garner support and build momentum for its products.

“Companies that may have taken a step back during Covid should reevaluate in-person events to get people excited and regain momentum for their platforms,” Pan Fang says. “The take-home message is, go out there and sponsor these events.”

 

Pan Fang, Wu, and Clough (2021). “Platform diffusion at temporary gatherings: Social coordination and ecosystem emergence,” Strategic Management Journal.


 

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Texas Stock Exchange Proposal Raises Profile Of Texas MBA Programs

In the Media
MBA
Programs

“MBA applicants typically target schools near where they would like to work,” said Dean Peter Rodriguez. “An exchange in Texas would move the balance toward us. We would expect to see more hiring directly into Texas-based institutions and corporations from Texas MBA programs.”

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Undergraduate GPA: What It Takes To Get Into A Top-50 U.S. MBA Program

Admissions
In the Media
In The Media

Score ranges show once again that a low GPA is not an insurmountable barrier to admission to a top MBA program.

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